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OPC Registration
All you need to know
One person company (OPC) in India is one of the easiest forms of corporate entities to manage. OPC is a hybrid of Sole-Proprietorship and Corporate form of business. It has been provided with various concessions in compliance requirements under the Companies Act. It is a form of a company where the compliance requirements are lesser than a private company. OPC registration is very easy and cheap process.
OPC Registration opens up new business opportunities for sole proprietors and entrepreneurs who also wish to enjoy the advantages of limited liability, and a separate legal entity as well. OPC does away with the hassles of finding the right partner for starting a business as the registered entity. It requires only one person who will act as a member, shareholder, and director.
One Person Company (OPC) registration fees:
Government fees for registering a One Person Company (OPC) in India depends on the nominal Share Capital of the company. For e.g. The Government fees for the OPC registration whose Share Capital is 10,00,000 the Government fees would be 2,000/- rupees. Whereas if nominal share capital ranges between Rs. 10,00,000 to Rs. 50,00,000 – Rs 2,000. Rs. 200 will be added for every Rs. 10,000 or part thereof of nominal share capital.
However, there would be additional costs such as DIN application fees, stamp duties, form filing fees as well for OPC Incorporation in India.
Bhavitra.com is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. Incorporating a Public Limited Company is easy, seamless, cheapest and quickest with Bhavitra.com! Apart from a Public Limited Company, Bhavitra.com also helps entrepreneurs with Private Limited Company Registration, Nidhi Company Registration, Partnership Registration, HUF, LLP Incorporation and One Person Company registration easily. You may get in touch with Bhavitra compliance manager on 09643203209 or email info@bhavitra.com for free consultation.
One Person Company (OPC) Registration Fees
Choose your Package
ESSENTIAL
₹ 7399/-
(All Inclusive)
- 2 Digital Signature Certificates
- 2 Director Identification Numbers
- 1 Name Approval Application
- Stamp duty on INR 1 Lakh Authorized Capital
- Company Incorporation using SPICe+
- Copy of e-MOA & e-AOA
- E-PAN
- E-TAN
- 2 e-copies of Share Certificates
- ESIC Registration through SPICe Plus
- PF Registration through SPICe Plus
- Bank Account opening (feature) through SPICe Plus
ESSENTIAL
₹ 7399/-
(All Inclusive)
- 2 Digital Signature Certificates
- 2 Director Identification Numbers
- 1 Name Approval Application
- Stamp duty on INR 1 Lakh Authorized Capital
- Company Incorporation using SPICe+
- Copy of e-MOA & e-AOA
- E-PAN
- E-TAN
- 2 e-copies of Share Certificates
- ESIC Registration through SPICe Plus
- PF Registration through SPICe Plus
- Bank Account opening (feature) through SPICe Plus
ESSENTIAL
₹ 7399/-
(All Inclusive)
- 2 Digital Signature Certificates
- 2 Director Identification Numbers
- 1 Name Approval Application
- Stamp duty on INR 1 Lakh Authorized Capital
- Company Incorporation using SPICe+
- Copy of e-MOA & e-AOA
- E-PAN
- E-TAN
- 2 e-copies of Share Certificates
- ESIC Registration through SPICe Plus
- PF Registration through SPICe Plus
- Bank Account opening (feature) through SPICe Plus
Compliance required by a One Person Company
All you should know about necessary compliances
GST Registration
Every One Person company is required to get their GST Registration within 30 days of business incorporation in India Under Goods & Service Tax Act. GST Registration is needed when the turnover is more than INR 40 lakhs or INR 20 lakhs in Special category states or If the One Person Company supplies goods intra-state or Provides goods and services online.
GST Return
Once a One Person Company gets registered under GST, it becomes necessary to file GST returns for Private Limited Company. As filing of GST returns is mandatory for all the registered Taxpayers including companies. GST returns can be filed monthly, quarterly or yearly depending upon the types of GST returns form you are filing.
Accounting
Every One Person company shall maintain proper books of accounts which shall represent an accurate and fair view of the state of affairs of the company. Accounting is necessary for the statutory audit, Annual filing and IT return filing which is mandatory once you start your Company. These books of accounts shall be audited by the auditor appointed by the company.
Statutory Audit
Every One Person Company registered under the Companies Act, 2013, irrespective of its sales turnover or nature of business or capital must have its book of accounts audited each financial year. Thus, the Board of Directors of a One Person Company are required by law to appoint an Auditor within 30 days of incorporation of the company and thereafter conduct an audit of its financial statements each FY.
MAT Audit
It is mandatory for the One Person Company to get their accounts audited under MAT i.e. Minimum Alternate Tax. The objective of the introduction of MAT was to bring into the tax net “zero tax companies” which in spite of having earned substantial book profits and having paid handsome dividends, do not pay any tax due to various tax concessions and incentives provided under the Income-tax Law.
Income Tax Audit
Irrespective of turnover every One Person Company requires to get the tax audits under section 44AB done. The Tax audit under section 44AB aims to ascertain the compliance of various provisions of the Income-tax Law and the fulfillment of other requirements of the Income-tax Law. The tax audit limit under section 44AB is INR 1 Crores (5 crores where at least 95 percent turnover is made on digital transactions)
Documents Required for One Person Company (OPC) Registration Process
Quick Checklist
- Photograph of all the Directors
- PAN Card of all the Directors
- ID Proof of the Directors (Driving License/Passport/Voter ID)
- Electricity Bill or any other utility bill for the address proof of the Registered Office.
Specific Requirements
A Company must have a registered office in India. Documents like bank statement or electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
How to form an OPC?
5 Easy Steps
1
Obtain DSC2
Reserve Your Company Name3
Submission of MOA & AOA4
Get Incorporation Certificate5
Get Company’s PAN & TANFill a Simple Checklist
A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
OPC Name Approval
Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently will apply for the approval of name for your One Person Company. You may suggest up to two names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your One Person Company in Part A of SPICe Plus form.
OPC Registration
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
FAQs On Private Limited Company
Get answers to all your queries
A Private Limited Company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. But if you are a sole owner, you can incorporate an OPC as well.
A Private Limited Company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. But if you are a sole owner, you can incorporate an OPC as well.
A Private Limited Company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. But if you are a sole owner, you can incorporate an OPC as well.